Industrial producer prices fell in both the European Union and the euro area in June 2023 for the sixth month in a row, while Croatia was among the countries with the largest increases, according to figures released by Eurostat, the EU's statistical office, on Thursday.

In June 2023, industrial producer prices fell by 0.4% in both the euro area and the EU, compared with May 2023. In May 2023, prices decreased by 1.9% in both the euro area and the EU. In June 2023, compared with June 2022, industrial producer prices decreased by 3.4% in the euro area and by 2.4% in the EU.

Monthly comparison

Industrial producer prices in the euro area in June 2023, compared with May 2023, decreased by 0.7% for intermediate goods and by 0.5% in the energy sector, while prices remained stable for durable consumer goods and for non-durable consumer goods, and prices increased by 0.1% for capital goods. Prices in total industry excluding energy decreased by 0.3%.

In the EU, industrial producer prices decreased by 0.8% for intermediate goods, by 0.4% in the energy sector, and by 0.1 for durable consumer goods and for non-durable consumer goods, while prices increased by 0.1% for capital goods. Prices in total industry excluding energy decreased by 0.4%.

The largest monthly decreases in industrial producer prices were recorded in Hungary (-2.5%), Bulgaria and Latvia (both -2.4%) and Belgium (-2.2%), while the highest increases were observed in Ireland (+4.0), Croatia (+1.3%) and Sweden (+1.2%).

Annual comparison

Industrial producer prices in the euro area in June 2023, compared with June 2022, decreased by 16.5% in the energy sector, by 2.7% for intermediate goods, while prices increased by 5.2% for capital goods, by 5.9% for durable consumer goods and by 8.9% for non-durable consumer goods. Prices in total industry excluding energy increased by 2.5%.

In the EU, industrial producer prices decreased by 14.0% in the energy sector and by 2.7% for intermediate goods, while prices increased by 5.1% for capital goods, by 5.5% for durable consumer goods and by 9.0% for non-durable consumer goods. Prices in total industry excluding energy increased by 2.6%.

The largest annual decreases in industrial producer prices were recorded in Ireland (-17.1%), Belgium (-12.4%) and Bulgaria (-11.4%), while the highest increases were observed in Hungary (+29.5), Slovakia (+18.2%) and Slovenia (+7.4%).

In Croatia, industrial producer prices were 4.2% higher in June 2023 than in June 2022. In May 2023, they increased by 3.7% year on year.